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Investor Presentaiton

Republic of Indonesia - USD3.1bn Equiv. Dual-Currency Offering On January 7, 2020, the Republic of Indonesia priced a transaction comprising EUR1 bn and USD2 bn in senior unsecured notes. Issuer Issuer Rating Exp. Issue Rating Issue Aggregate Size Maturity Tranche Size Coupon Reoffer Price Reoffer Yield Benchmark (Yield) Republic of Indonesia Baa2 Moody's (Stable) BBB S&P (Stable) BBB Fitch (Stable) Baa2 (Moody's) / BBB (S&P) / BBB (Fitch) U.S. SEC-registered shelf takedown Fixed rate senior unsecured notes EUR 7-year February 14, 2027 EUR1,000 mm 0.900% p.a. (ACT/ACT) 99.638% 0.953% p.a. €MS (- 0.077%) DBR 02/15/27 (- 0.446%) USD3,100 mm equiv. USD 10-year February 14, 2030 USD1,200 mm 2.850% p.a. (30/360) 99.737% 2.880% p.a. USD 30-year February 14, 2050 USD800 mm 3.500% p.a. (30/360) 99.077% 3.550% p.a. UST 10 (1.828%) Old UST 30 (2.311%) Transaction Highlights Leveraged a brief market window of stability to price inside fair value levels by 1 bp for the EUR tranche and at a de minimis concession inside 1 bp for the 10- and 30-year USD tranches Record-low yields, spreads, and coupons by EUR and USD financing by the Gol in each tenor High-quality and price-insensitive demand allowed compression of 27 bp for the EUR tranche and 25 bp and 20 bp for the 10- and 30-year USD tranches, respectively Harnessed a particularly strong bid for duration to price benchmarks which prompted a rally in the long-end of Indonesia's curve once the new bonds were freed to trade карнецо Totalindications. TotalAlecadens Mumber Chaplin Ally Go 17% EUR 7 year ELAS,920 ELR1,000 20 3 ויו USD 10-per 0309 600mm UBO 200mm 3dc TRI IFY WEA 24 USD 30-year J802300m USD 134 2la 5 Spread to Benchmark Denominations €MS + 103 bp DBR + + 105.2 bp + 123.9 bp Allocation by Typ: 239.9 bp EUR100k /EUR1k USD 200k/1k USD 200k/1k Listing Law law Use of Proceeds Singapore, Frankfurt Open Market listing / New York For general purposes, including to partially fund general financing requirements Source: Ministry of Finance 15 15 * $15 5% 11% 31% 60% 21% Pension Fix Fus 15 Pivot Bank and 73
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